Introduction

In this Analysis, You will read about Solend User’s categories.

We want to know What is the user distribution by size of account? (How many have between $1-1,000, 1,000 - 100k, etc). Is the protocol largely influenced by whales, or by average Solana users?

What is Solend?

Solend is a DeFi app that lets users borrow and lend funds without having to go through intermediaries.

Analyzed By Hess - Reading Time Almost 5Min

Method

We don’t have the daily price of SOL in Solana tables. So the first thing I did, I calculated by Sol price by Swap tables. I did it before in Genopet. So I just used that. Then Used the Solend program id which is So1endDq2YkqhipRh3WViPa8hdiSpxWy6z3Z6tMCpAo in the fact table. Then filtered these

instruction:accounts[2] = '8PbodeaosQP19SjYFx855UMqWxH2HynZLdBXmsrbac36' and instruction:accounts[3] = '8UviNr47S8eL6J3WfDxMRa3hvLta1VDJwNWqsDgtN3Cv' and instruction:accounts[4] = '5h6ssFpeDeRbzsEHDbTQNH7nVGgsKrZydxdSTnLm6QdV'. After that, I put them into 5 categories.

Daily Number of Users per Amount

The majority of Solend users are in 1-100 US dollar categories. Most whales were on Solend in February. The second large group of users are in 100-1K category.

44% of Solend are regular users with 1-100 US dollars. we can call second group of users again regular user with 100-1K US dollars. 18% of users were higher than regular users but not whales. Only 1% of users were Whales. The cumulative shows how regular users have grown.

Solend New Users

Most users have used Solend from December 2021 until end of the February. After February, The total daily new users decreased from above 100 Users 50-70 daily users.

Conclusion

In total, We can conclude that Solend influenced by Normal Users not whales.

Thank You For Reading!

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